Indiana Property Tax Changes for 2016

| 2/4/2016

Legislation passed in 2015 made numerous changes to Indiana property tax.

Real Property Exemption Application Deadline Change for Not-for-Profit Organizations

Indiana requires tax-exempt organizations to file Form 136, “Application for Property Tax Exemption" annually to claim an exemption from property tax. Before the 2016 assessment year, Form 136 was due by May 15. Beginning in 2016, Form 136 must be filed on or before April 1.

New Exemption for Businesses With Less Than $20,000 in Assets

Beginning with the 2016 assessment year, taxpayers with less than $20,000 in property (measured by original cost) in a county will be exempt from personal property tax in that county. To take advantage of the exemption, taxpayers must file an exemption certification on an annual basis. The content of the certification is available on the Indiana Department of Local Government Finance website. The certification must be filed prior to May 15.

Duplicate Filing Requirement Removed for Certain Property

Beginning in 2016, taxpayers whose property has an assessed value greater than $150,000 in a county no longer will be required to file personal property forms in duplicate in that county.

Assessment Date Change

The annual assessment date has moved from March 1 to Jan. 1. Beginning with the 2016 assessment year, taxpayers will begin paying property taxes on the assets they own as of Jan. 1. As such, the tax imposed in 2017 will be based on the assets the taxpayer owns as of Jan. 1, 2016. 

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State Tax

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